Hospital Supplies Market Opportunities and Strategic Focus Report

The North America Hospital Supplies Market was worth $10.13 billion in 2016 and estimated to be growing at a CAGR of 11.70%, to reach $17.62 billion by 2021.

The North America Hospital Supplies Market was worth $10.13 billion in 2016 and estimated to be growing at a CAGR of 11.70%, to reach $17.62 billion by 2021. The Hospital supplies market has been growing at a substantial rate over the past few years.

Technically advanced products are being launched by companies to assist medical professionals in managing their patients. With an extensive category of development and investment prospects for budding players seeking to be a part of the medical device market, continual growth of the hospital supplies market is expected.

The growth of the North America Hospital Supplies Market is majorly driven by factors such as growing awareness about HAIs (hospital acquired infections), aging population, and increasing occurrences of communal diseases. However, advent of home care services, advance of personalized medicine and drop in private health insurance are the major factors hindering the growth of the market.

The North America Hospital Supplies Market is segmented on the basis of product type into Operating Room Equipment, Sterilization & Disinfectant Equipment, Syringes & Needles, Patient Examination Devices, Mobility Aids & Transportation Equipment, and Disposable Hospital Supplies. Disposable hospital supplies lead the market with a market share of 46% followed by syringes and needle segment with a market share of 23%.

The North America market has been geographically segmented into segmented into US and Canada. The USA leads the market in this region with a share of almost 74%. The North America market is very modern and is focused on innovating cost-effective procedures. Companies are committed to research, sourcing, and quality, factors that are central to the success of the industry.

The major companies dominating the market in this region are Advanced Sterilization Products Services Inc., Dickinson and Company, Cardinal Health, Inc., Kimberly-Clark Corporation, Becton, 3M Health Care, and B. Braun Melsungen AG. The top players in the North America hospital supplies market are likely to face an intense competition from some of the budding companies in the coming years, exemplifying the open nature of this market.